3 Discussion Questions, 3 Student Reponses and 1 Journal Entry

ECO110: Taking Charge of Your Economic Future

Week 11

Part 1: Winding Up

· 5

Many people dream about one day owning their own business. In this week’s discussion, describe an idea for a business that you might be interested in starting.

1. How could you use the skills you’ve learned throughout this course to help you get started?

2. How would learning about economics and personal finance help you run your business successfully?

Please respond to at least one classmate.

Part 2: Student Response (Respond to the below Student)

Dawson Yeager 

RE: Winding Up

· 5

An idea that I have recently had for a business plan that I could pursue is starting a home inspection business. Over the course of the past few months I have gone through the process of purchasing a townhome and actually helped a friend perform the inspection and got me interested in pursuing this potential type of career. I have learned some skills in this course that could be of great impact from resources to help me get started to budgeting and goal setting for start up funds and finances. The excel application has grown on me especially through this course seeing how easy I can input functions to have the program do the math for me saves me so much time and effort while making it extremely clear to use and refer to.

Learning about economics and finance will help my business is so many different ways. Understanding economics will help me understand supply and demand and how I can form my business and assets around those curves as well as looking at economic trends to help me predict future plans and trends and at least prepare and plan ahead for any changes that may arise. Finances will help me maintain a functioning and flowing business from a income and spending standpoint and help me see where we are doing well and not doing well within the business to see ways to improve. These two principles of finance and economics go hand and hand with eachother. 

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